Figure 2: Development Pressure on PrivateForests Source: U.S. Forest Service31

The undeveloped value of private forestland likewise depends on a multitude of factors. For NIPF owners who do not harvest timber, the most relevant factors are likely their own subjective valuation of forest amenities. Conversely, as White and Mazza explain, the undeveloped value of timber producing private forestland largely depends on changing market conditions in the forest products sector.

With the above background on nonindustrial private forests and forest conversion, the remainder of this report explores two policies affecting the forest products sector and, consequently, the undeveloped value of nonindustrial private forests.